In a sub-to or Novation, it's typical to get a limited POA with allows for advertising the property on behalf of the seller. 

You might consider bank statement loans or no-income-verification loans, which use your 1099s or bank statements to qualify.For down payments:Traditional loan: Typically 5%-20%.FHA loan: 3.5% down, but may still require tax returns.

The rate is typically higher than a normal P&I loan.

If you are looking to just add an opening between the units since you are utilizing it as one dwelling, then typically you could just add a fire rated door.

I am a Realtor in Madison, WI and so far as stated earlier, other than an offer of compensation no longer being listed in the MLS, not a lot has changed as far as sellers typically being agreeable to pay buyers agents at closing a buyer agency commission, and sellers just viewing that as a closing cost and focus on reaching a net proceed number they are happy with (if competing, one buyer may ask you to pay their buyer agent fee, but at a higher price where you could still net more than a lower priced Offer). 

But remember that for studios, tenants typically would pay their own cable, electric and other utilities and maintenance, so the gap is bigger than just the base rent comparison.Our tenants have the option of paying an extra $10/week to have a mini-fridge in their room, and $10/week for weeks they want a window A/C unit.

Additionally, you miss out on one of the biggest advantages of real estate: forcing appreciation through strategic renovations.Another issue with Turnkey properties is that they often aren’t homesteaded, which typically throws off any proforma, resulting in higher-than-expected property taxes.

You can typically find properties here that cashflow positive in good locations for around $180k to $200k.

They typically want two years of work history before they will lend to you.

If you are getting a long term rental, you may have some upfront work, and then whenever a tenant move in / out have some work, but typically for long term rentals you aren't touching / doing things to it every day.